Banco Hipotecario misses buyback target

Banco Hipotecario misses buyback target

Investors have tendered $52.4m in Banco Hipotecario's 9.75% 2020 notes, or 69.9% of the maximum amount in the bond buyback.
The Argentine lender had offered to repurchase up to $75m in 2020s, offering bondholders a $30 premium for notes tendered by the early deadline.
The bank offered to pay $995 for every $1,000 in notes tendered by March 26 and then $965m for every $1,000 until April 9.
Banco Hipotecario had $334m in outstanding 2020 notes before it initiated the buyback. It sold the five-year